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ANOTHER GUNNY G BLOG!

Saturday, September 17, 2011

Another day another version of President Barack Obama's 'Pass This Bill' speech. This time he used his weekly radio address to push his American Jobs Act saying, "every one of you can help make it happen by telling your congressperson to pass this jobs bill right away." But he has yet to explain how his new plan can possibly work when virtually the same ideas at double the cost didn't work last time.

Mr. Obama is offering the same kind of temporary tax cuts, extremely targeted tax credits and employment subsidies that were contained in 2009's $800 billion stimulus bill. Then as now, he went into crisis-mode demanding swift passage of the bill to keep the national unemployment rate below 8% and get it down to 6% within months. It rose to over 9% and is still there with the underemployment rate, which includes those who have stopped looking for work, at 16.2%.